Question
The revenue recognition principle states that: (a) revenue should be recognized in the accounting period in which a performance obligation is satisfied. (b) expenses should
- The revenue recognition principle states that:
(a) revenue should be recognized in the accounting period in which a performance obligation is satisfied.
(b) expenses should be matched with revenues.
(c) the economic life of a business can be divided into artificial time periods.
(d) the fiscal year should correspond with the calendar year.
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Accounting And Finance For Non Finance Managers
Authors: Jai Kumar Batra
1st Edition
9352806964, 978-9352806966
